-- Expects Net Sales and Operating Profit for Retail Operations to be
Lower Than Anticipated --

NEW YORK--(BUSINESS WIRE)--
G-III Apparel Group, Ltd. (NasdaqGS:GIII) today announced an update to
its fourth quarter and full fiscal year ended January 31, 2017 net sales
and net income estimates. Fourth quarter net sales from the Company's
retail operations segment are expected to be less than anticipated due
to unseasonably warm weather in the first part of the quarter,
persistent lower traffic as compared to last year, issues with respect
to the design and merchandising of accessories sold at the Wilsons
stores, and an overall challenging retail environment. The Company was
anticipating positive comparative sales increases in the low single
digits for both the Wilsons and Bass retail chains. The Company now
anticipates comparative sales to be down low-double digits for Wilsons
and down mid-single digits for G.H. Bass. In addition, gross margin will
be adversely impacted due to higher than planned promotional activity in
the retail operations segment. As a result, the Company expects the
retail operations segment to experience a decrease in net sales of
approximately $20 million and a decrease in net income of approximately
$10 million, equal to $0.20 per diluted share, in the fourth quarter
compared to the anticipated results for the segment previously included
in the Company's forecast. The forecast for the wholesale operations
segment remains consistent with the Company's prior expectations.

For the full fiscal year ending January 31, 2017, the Company is now
forecasting net sales of approximately $2.41 billion and net income
between $57 million and $62 million, or a range between $1.21 and $1.31
per diluted share, compared to the previous guidance of net sales of
approximately $2.43 billion and net income between $67 million and $72
million, or a range between $1.41 and $1.51 per diluted share. The full
year forecast continues to include an estimate of net sales of
approximately $25 million and operating losses and additional interest
expense of approximately $21 million, before taxes, equal to $0.28 per
diluted share, associated with the acquisition of Donna Karan
International, Inc. The current year's forecast also continues to
include professional fees of approximately $15 million, before taxes,
equal to approximately $0.20 per diluted share, in connection with the
acquisition and the impact of the issuance of approximately 2.6 million
shares of new G-III common stock to the seller.

Excluding professional fees associated with the acquisition of Donna
Karan in fiscal 2017 and other income in fiscal 2016, the Company is now
forecasting non-GAAP net income per diluted share of between $1.41 and
$1.51, for the full 2017 fiscal year compared to $2.44 for the 2016
fiscal year. The non-GAAP forecast includes the estimated operating
losses and additional interest expense of approximately $21 million,
before taxes, equal to $0.28 per diluted share, related to the Donna
Karan business and the issuance of additional shares associated with the
acquisition of Donna Karan.

The Company is now projecting adjusted EBITDA for fiscal 2017 of between
approximately $148 million and $155 million compared to adjusted EBITDA
of $210.1 million in fiscal 2016 and to its previous forecast of
adjusted EBITDA of between approximately $163 million and $171 million.
The current projection includes estimated operating losses of $14
million of the post-acquisition Donna Karan business, but excludes
professional fees associated with the acquisition of Donna Karan.

Non-GAAP net income per diluted share and adjusted EBITDA should be
evaluated in light of the Company's financial results prepared in
accordance with U.S. GAAP. Reconciliations of forecasted and actual GAAP
net income per share to forecasted and actual non-GAAP net income per
share and of GAAP net income to adjusted EBITDA are included in tables
accompanying the condensed financial statements in this release.

Statements concerning G-III's business outlook or future economic
performance, anticipated revenues, expenses or other financial items;
product introductions and plans and objectives related thereto; and
statements concerning assumptions made or expectations as to any future
events, conditions, performance or other matters are "forward-looking
statements" as that term is defined under the Federal Securities laws.
Forward-looking statements are subject to risks, uncertainties and
factors which include, but are not limited to, reliance on licensed
product, reliance on foreign manufacturers, risks of doing business
abroad, the current economic and credit environment, the nature of the
apparel industry, including changing customer demand and tastes,
customer concentration, seasonality, risks of operating a retail
business, customer acceptance of new products, the impact of competitive
products and pricing, dependence on existing management, possible
disruption from acquisitions, risks relating to G-III's acquisition of
Donna Karan International Inc. and general economic conditions, as well
as other risks detailed in G-III's filings with the Securities and
Exchange Commission. G-III assumes no obligation to update the
information in this release.

G-III APPAREL GROUP, LTD. AND SUBSIDIARIES

RECONCILIATION OF FORECASTED AND ACTUAL GAAP NET INCOME PER
SHARE TO

FORECASTED AND ACTUAL NON-GAAP NET INCOME PER SHARE

(Unaudited)

Revised Forecasted Twelve Months Ending
January 31, 2017

Prior Forecasted Twelve Months Ending
January 31, 2017

Actual Twelve Months Ended January
31, 2016

GAAP diluted net income per common share

$ 1.21 - $ 1.31

$1.41 - $1.51

$ 2.46

Excluded from non-GAAP:

Professional fees associated with Donna Karan acquisition, net of
taxes

0.20

0.20

-

Other income, net of taxes

-

-

(0.02)

Non-GAAP diluted net income per common share

$ 1.41 - $ 1.51

$1.61 - $1.71

$ 2.44

Non-GAAP diluted net income per share is a "non-GAAP financial measure"
that excludes (i) professional fees incurred in connection with the
acquisition of Donna Karan in fiscal 2017 and (ii) other income in
fiscal 2016 which consisted of the reduction of the estimated contingent
consideration payable in connection with the acquisition of Vilebrequin.
Management believes that this non-GAAP financial measure provides
meaningful supplemental information regarding our performance by
excluding acquisition expenses and other income that is not indicative
of our core business operating results. Management uses this non-GAAP
financial measure to assess our performance on a comparative basis and
believes that it is also useful to investors to enable them to assess
our performance on a comparative basis across historical periods and
facilitate comparisons of our operating results to those of our
competitors. The presentation of this financial information is not
intended to be considered in isolation or as a substitute for, or
superior to, the financial information prepared and presented in
accordance with GAAP.

G-III APPAREL GROUP, LTD. AND SUBSIDIARIES

RECONCILIATION OF FORECASTED AND ACTUAL NET INCOME TO
FORECASTED AND

ACTUAL ADJUSTED EBITDA

(In thousands)

(Unaudited)

Revised Forecasted TwelveMonths EndingJanuary
31, 2017

ActualTwelve Months EndedJanuary
31, 2016

Net income

$ 57,000 - $ 62,000

$ 114,333

Professional fees associated with the Donna Karan acquisition

15,000

-

Other income

-

(1,068)

Depreciation and amortization

31,700

25,392

Interest and financing charges, net

13,300

6,691

Income tax expense

31,000 - 33,000

64,800

Adjusted EBITDA, as defined

$ 148,000 - $ 155,000

$ 210,148

Adjusted EBITDA is a "non-GAAP financial measure" which represents
earnings before depreciation and amortization, interest and financing
charges, net, and income tax expense and excludes (i) estimated expenses
incurred in connection with the acquisition of Donna Karan in fiscal
2017 and (ii) other income in fiscal 2016 which consisted of the
reduction of the estimated contingent consideration payable in
connection with the acquisition of Vilebrequin. Forecasted net income
and adjusted EBITDA include $14 million of estimated operating losses
associated with the acquisition of Donna Karan. Adjusted EBITDA is being
presented as a supplemental disclosure because management believes that
it is a common measure of operating performance in the apparel industry.
Adjusted EBITDA should not be construed as an alternative to net income
as an indicator of the Company's operating performance, or as an
alternative to cash flows from operating activities as a measure of the
Company's liquidity, as determined in accordance with generally accepted
accounting principles.